Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

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This Week's Research

  • 02/03/12 Update SIMO (Buy; $32.00 PT): SIMO beats Again; raising FY ’12 EPS from $1.44 to $1.84; increasing PT from $25.55 to $32.00
  • 02/03/12 Update OPLK (Buy; $22.00 PT): Demand from Chinese customers firming up
  • 02/03/12 Update BOFI (Buy; $23.00 PT): Reports strong performance; more cautious NIM outlook leads to reduced EPS estimates
  • 02/03/12 Update CMO (Neutral; $13.50 PT): despite upside in quarter, hikes in our estimates and PT, recent run-up in share price keeps our rating at Neutral
  • 02/03/12 Morning Note B. Riley & Co. Morning Notes: BEBE, BOFI, BC, CMO, EGHT, GHDX, ITI, OPLK, PII, SIMG, SIMO, VSAT, WTSLA
  • 02/03/12 Flash Report ITI (Not Rated): Q3 beat; momentum expected to develop with organic growth, acquisitions and soon the long-awaited new federal highway bill is expected…
  • 02/03/12 Update SIMG (Buy; $9.00 PT): Dec Beat and Better March Should Be Good Enough to Fuel a Relief Rally; Buy
  • 02/03/12 Update BEBE (Buy; $10.30 PT): Q2 beat; seemingly conservative guidance in light of strong January trend, but cognizant of sequentially more challenging Feb./March…
  • 02/02/12 Update RLD (Buy; $15.50 PT): Reports EPS of $0.05 vs. RILY ($0.09)/consensus ($0.05); lowering FY13 estimate from $0.31 to $0.30, raising FY14 estimate from…
  • 02/02/12 Update FBP (Buy; $5.50 PT): Considerable Noise in 4Q11 Results, but Encouraging Trends in NPAs, Loan Production and NIM Lead to Increased EPS Estimates;…
  • 02/02/12 Update CELL (Buy; $13.00 PT): Weak March Outlook (and Mix) Weigh on Stock, But the Risk/Reward is Back in Balance; Maintain Buy
  • 02/02/12 Morning Note B. Riley & Co. Morning Notes: CALD, CHRS, EXAR, FBP, GRPN, HOTT, JDSU, KEYN, KW, PPC, RLD, ZUMZ
  • 02/02/12 Update CALD (Neutral; $7.50): Adjusting Estimates to Reflect Acquisition of LeadFormix and Investments to Support Accelerating Growth; Downgrading to “Neutral”…
  • 02/02/12 Initiation of Coverage KW (Buy; $15.50 PT): Synergy and symmetry; Initiating coverage of KW shares with a Buy rating and $15.50 price target
  • 02/02/12 Update EXAR (Buy; $7.90 PT): Reports EPS of ($0.04) vs. RILY ($0.03)/consensus of ($0.04); guides Q4 below consensus; reducing FY13 EPS estimate from $0.19…
  • 02/02/12 Update JDSU (Buy; $17.00 PT): Reports EPS of $0.15 vs. RILY $0.09/consensus of $0.10; Q4 guidance in line; maintaining FY13 EPS estimate of $1.00 and raising…
  • 02/02/12 Update KEYN (Buy; $23.50 PT): Upgrading to “Buy” Rating Following Reset of Expectations
  • 02/01/12 Update AFOP (Buy; $14.60 PT): Demand is starting to improve as Q1 revenue is expected to be higher Q-o-Q; Lowering 2012 estimates and introducing 2013 estimates;…
  • 02/01/12 Morning Note B. Riley & Co. Morning Notes: AFOP, AKAM, AOL, AXTI, BC, BEBE, CAMP, CSTR, DRL, EHTH, GSM, HOTT, IMAX, JDSU, JMBA, KEYN, KCP, KTOS, LIOX, MSPD, MYGN,…
  • 02/01/12 Update KEYN (Neutral; $23.50 PT): Q1 results trounce all expectations; Q2 guidance dampens the enthusiasm; maintain "Neutral" rating
  • 02/01/12 Update AKAM (Neutral; $34.00 PT): Downgrading from Buy to Neutral on Valuation and Low Likelihood for Revenue Outperformance in 2012
  • 02/01/12 Update AOL (Buy; $23.00 PT): Discontinuing Coverage to Focus Resources Elsewhere
  • 02/01/12 Update EHTH (Neutral; $14.00 PT): Discontinuing Coverage to Focus Resources Elsewhere
  • 02/01/12 Update MYGN (Buy; $32.00): Strong execution on key growth initiatives leads to Q2 results ahead of estimates; Mgmt raises guidance for the full year; We…
  • 02/01/12 Update B. Riley & Co Focus List for the Month of January: AXTI, BC, CSTR, DRL, GSM, HOTT, JMBA, KTOS, LIOX, MSPD, MYGN, TWO, WWWW
  • 01/31/12 Update OFG (Neutral; $12.00 PT): Lowering 2012/2013 EPS estimates from $1.03/$1.22 to $0.90/$1.16 on NIM compression and higher provisioning; downgrading…
  • 01/31/12 Morning Note B. Riley & Co. Morning Notes: AFOP, BIRT, BOFI, CSTR, EXAR, KTOS, MSPD, UMPQ, WTSLA, ZUMZ
  • 01/31/12 Update BIRT (Buy; $9.00 PT): Reports Solid Q4 Results; Stage Set for Accelerating Growth in FY ’12 and Beyond; Reiterate “Buy” Rating
  • 01/31/12 Update MSPD (Buy; $9.00 PT): Demand Bottoming and Picochip Close on Track; Maintain Buy
  • 01/30/12 Morning Note B. Riley & Co. Morning Notes: CKEC, CLRO, CNK, GBCI, GSM, NFLX, OFG, PFBC, RGC, SIMO, VCLK
  • 01/30/12 Update NFLX (Neutral; $125.00 PT): Rapid Move Since Pre-Earnings PT Increase Prompts Downgrade from Buy to Neutral; Remain Optimistic on Global Growth Opportunity
  • 01/30/12 Update GSM (Buy; $19.25 PT): Reducing Estimates and Turning Sights to CY ’13
  • 01/30/12 Update VCLK (Buy; $22.00 PT): Trimming Estimates for Weakness in Europe and FX; 1Q12 Guidance could see Significant Seasonality
  • 01/30/12 Earnings Preview Q4 '11 Earnings Preview - Sorted By Date
  • 01/30/12 Update SIMO (Buy; $25.55 PT): Earnings preview: LTE transceiver and mobile storage strength likely drives continued momentum; adjusting Q4 (Dec) and raising…
  • 01/30/12 Update CLRO (Flash Research):CLRO to fill out conferencing and collaboration offering with proposed acquisition of video conferencing software maker VCON…
  • 01/30/12 Update PFBC (Buy; $13.00 PT): Lower DTA valuation allowance reversal leads to 4Q11 shortfall despite sharp improvement in asset quality; raising EPS estimates;…
  • 01/30/12 Earnings Preview Q4 '11 Earnings Preview - Sorted By Company Name
  • 01/30/12 Update GBCI (Neutral; $13.00 PT): Raising 2012 and 2013 EPS Estimates on Reduced Expected Provisioning; Increasing Target Price by $1.00; Reaffirming “Neutral”…